Home sales peaked again in March, representing the best
spring market since 2007. The number of active homes for sale also
continues at historic lows with just 3.2 months of unsold inventory in the
Portland Metro Area. This market dynamic has put an upward pressure
on home prices, influenced home buyers to be more decisive, and has given quite
an edge to homeowners looking to sell.

Portland-area home prices are beginning to rebound after
falling by more than 30% during the housing crash. The average sales
price of a house in Portland is approximately $290,000 - an increase of just
over 15% from the first quarter of last year. The median price of a
Portland house is about $247,000 – an increase of almost 17%! The median
value represents a mid-point with an equal number of houses priced above and
below this number.

Close-in neighborhoods within North, Northeast, and
Southeast Portland are hot zones with houses selling quickly and often with
multiple offers. Inner-SE and NE Portland have experienced the greatest
share of price increases.

Southwest and Northwest Portland, Beaverton, Aloha, and
Hillsboro are also selling quickly. These areas have held a larger share
of the distressed bank-owned and short-sale properties selling at lower
prices.

Area’s more rural East and Southeast of Portland like
Gresham, Troutdale, Oregon City, and Milwaukie are selling at a slower pace but
increased in price by 3-5% this past year.

Interest Rates are still under 4%.

Please call me if it’s time to buy or sell a home.
I’ll work hard for you.

Darin Provost,
Broker

Vintage Real
Estate

503-784-7626

And call Steven Welch with Northwest Mortgage Group at
503-805-6810 if you think it’s time to refinance or buy. You’ll be very
happy with Steven’s experience and commitment to serving his clients.

About Me

A local resident for over 40 years, Darin is at home in Portland. He has worked full-time as a Broker since 2005 and is dedicated to being a resource to his clients. He is a graduate from Portland State University with a Business Degree in Finance, so numbers come natural to him. If you'd like to know what your house is worth - Call him! He began his professional career as a financial analyst for the City of Portland and worked progressively with Portland’s water utility for 17 years.

After a long career with the City, Darin’s restless nature led him to a successful 12 year career in real estate. He bought his first home in 1993 in SE Portland at 43rd & Clinton – just a short walk from the Portland Digs’ office.

Undoubtedly, you’ll feel his love of the business and experience comforting. Darin works hard for his clients and is available to help first-time home buyers, investors, and long-time homeowners looking to move.

When he’s not working, Darin spends time on a motorcycle, or on the Columbia River windsurfing.